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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue $ 17,974 $ 27,923 $ 37,330 $ 50,611
Cost of revenue 16,541 20,271 37,138 36,865
Gross profit 1,433 7,652 192 13,746
Operating expenses:        
Selling, general and administrative 5,653 5,779 11,569 12,006
Research and development 2,525 3,758 5,643 6,972
Total operating expenses 8,178 9,537 17,212 18,978
Loss from operations (6,745) (1,885) (17,020) (5,232)
Interest expense, net (202) (282) (471) (631)
Gain (loss) from equity method and fair value investments (171) 598 77 1,488
Other income, net 23 491 377 1,523
Loss before provision for income taxes (7,095) (1,078) (17,037) (2,852)
Provision for income taxes 579 121 653 395
Net loss (7,674) (1,199) (17,690) (3,247)
Less: Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests 666 (317) 1,884 (352)
Net loss attributable to AXT, Inc. $ (7,008) $ (1,516) $ (15,806) $ (3,599)
Net loss attributable to AXT, Inc. per common share:        
Basic (in dollars per share) $ (0.16) $ (0.04) $ (0.36) $ (0.09)
Diluted (in dollars per share) $ (0.16) $ (0.04) $ (0.36) $ (0.09)
Basic (in shares) 43,710 43,092 43,630 43,039
Diluted (in shares) 43,710 43,092 43,630 43,039